Pershing Square Holdings, an investment holding company, released its first half 2023 investor letter. A copy of the same can be downloaded here. The fund generated NAV performance of 10.0% during the first half of 2023 and a total shareholder return of 5.4% due to the widening of discount to NAV at which PSH’s shares trade. Year-to-date, PSH’s NAV return through August 15, 2023, was 13.1% compared to 16.8% for the S&P 500 index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Pershing Square Holdings highlighted stocks like Canadian Pacific Kansas City Limited (NYSE:CP) in the first half 2023 investor letter. Headquartered in Calgary, Canada, Canadian Pacific Kansas City Limited (NYSE:CP) owns and operates a transcontinental freight railway. On September 1, 2023, Canadian Pacific Kansas City Limited (NYSE:CP) stock closed at $80.37 per share. One-month return of Canadian Pacific Kansas City Limited (NYSE:CP) was -1.57%, and its shares gained 8.52% of their value over the last 52 weeks. Canadian Pacific Kansas City Limited (NYSE:CP) has a market capitalization of $75.366 billion.
Pershing Square Holdings made the following comment about Canadian Pacific Kansas City Limited (NYSE:CP) in its first half 2023 investor letter:
Canadian Pacific Kansas City Limited (NYSE:CP) is a high-quality business with significant earnings growth potential that operates in an oligopolistic industry with considerable barriers to entry and significant pricing power due to its high quality competitive transportation offering. After receiving regulatory approval from the Surface Transportation Board on March 15, Canadian Pacific closed the acquisition of Kansas City Southern on April 14th and renamed the combined company Canadian Pacific Kansas City.
CPKC is a high-quality business with significant earnings growth potential that operates in an oligopolistic industry with considerable barriers to entry and significant pricing power due to its high quality competitive transportation offering. After receiving regulatory approval from the Surface Transportation Board on March 15, Canadian Pacific closed the acquisition of Kansas City Southern on April 14th and renamed the combined company Canadian Pacific Kansas City. …” (Click here to read the full text)
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Canadian Pacific Kansas City Limited (NYSE:CP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 52 hedge fund portfolios held Canadian Pacific Kansas City Limited (NYSE:CP) at the end of second quarter which was 48 in the previous quarter.
We discussed Canadian Pacific Kansas City Limited (NYSE:CP) in another article and shared the list of best TSX stocks to buy. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
